ION Announces Closing of Debt Settlement and Update on Joint Venture on Urgakh Naran Project
Lithium ION Energy (TSXV: ION) has completed two significant transactions: a debt settlement and a strategic joint venture agreement for its Urgakh Naran project in Mongolia. The company settled $120,000 in debt by issuing 3 million common shares at $0.04 per share to non-arm's length creditors.
In the joint venture with SureFQ Ltd., ION will maintain a 20% free carried interest through commercial production, receiving USD$5.5 million in cash over 4.5 years and USD$8 million in development expenditures over 4 years. The transaction requires shareholder approval at the August 26, 2025 Annual General Meeting.
Lithium ION Energy (TSXV: ION) ha completato due operazioni importanti: un saldo di debito e un accordo strategico di joint venture per il progetto Urgakh Naran in Mongolia. La società ha estinto un debito di 120.000 dollari emettendo 3 milioni di azioni ordinarie a 0,04 dollari per azione a creditori non indipendenti.
Nel joint venture con SureFQ Ltd., ION manterrà un interesse gratuito del 20% fino alla produzione commerciale, ricevendo 5,5 milioni di dollari USA in contanti in 4,5 anni e 8 milioni di dollari USA in spese di sviluppo in 4 anni. L’operazione necessita dell’approvazione degli azionisti durante l’Assemblea Generale Annuale del 26 agosto 2025.
Lithium ION Energy (TSXV: ION) ha completado dos transacciones importantes: un acuerdo de cancelación de deuda y un acuerdo estratégico de joint venture para su proyecto Urgakh Naran en Mongolia. La compañía saldó una deuda de 120,000 dólares emitiendo 3 millones de acciones ordinarias a 0.04 dólares por acción a acreedores relacionados.
En la joint venture con SureFQ Ltd., ION mantendrá un interés libre del 20% durante la producción comercial, recibiendo 5.5 millones de dólares estadounidenses en efectivo a lo largo de 4.5 años y 8 millones de dólares estadounidenses en gastos de desarrollo durante 4 años. La transacción requiere la aprobación de los accionistas en la Asamblea General Anual del 26 de agosto de 2025.
Lithium ION Energy (TSXV: ION)는 몽골 Urgakh Naran 프로젝트를 위한 부채 정산과 전략적 합작 투자 계약 두 건을 완료했습니다. 회사는 12만 달러의 부채를 주당 0.04달러에 300만 보통주 발행으로 비독립 채권자에게 상환했습니다.
SureFQ Ltd.와의 합작 투자에서 ION은 상업 생산 시점까지 20% 무상 지분을 유지하며, 4.5년 동안 550만 달러 현금과 4년 동안 800만 달러 개발비용을 받게 됩니다. 이 거래는 2025년 8월 26일 정기 주주총회에서 주주 승인을 필요로 합니다.
Lithium ION Energy (TSXV : ION) a finalisé deux opérations majeures : un règlement de dette et un accord de coentreprise stratégique pour son projet Urgakh Naran en Mongolie. La société a réglé une dette de 120 000 $ en émettant 3 millions d’actions ordinaires à 0,04 $ par action à des créanciers liés.
Dans le cadre de la coentreprise avec SureFQ Ltd., ION conservera une participation gratuite de 20 % jusqu’à la production commerciale, recevant 5,5 millions de dollars US en espèces sur 4,5 ans et 8 millions de dollars US en dépenses de développement sur 4 ans. L’opération nécessite l’approbation des actionnaires lors de l’assemblée générale annuelle du 26 août 2025.
Lithium ION Energy (TSXV: ION) hat zwei bedeutende Transaktionen abgeschlossen: eine Schuldenbegleichung und eine strategische Joint-Venture-Vereinbarung für das Urgakh Naran Projekt in der Mongolei. Das Unternehmen beglich Schulden in Höhe von 120.000 USD, indem es 3 Millionen Stammaktien zu je 0,04 USD an nicht unabhängige Gläubiger ausgab.
Im Joint Venture mit SureFQ Ltd. behält ION einen 20% kostenlosen Anteil bis zur kommerziellen Produktion und erhält 5,5 Millionen USD in bar über 4,5 Jahre sowie 8 Millionen USD für Entwicklungsausgaben über 4 Jahre. Die Transaktion erfordert die Zustimmung der Aktionäre auf der Hauptversammlung am 26. August 2025.
- None.
- Significant dilution through 3 million shares issued at $0.04 per share
- Loss of majority control in UN project
- Related party transaction with insiders receiving shares
- Transaction requires shareholder approval due to size (>50% of assets)
Toronto, Ontario--(Newsfile Corp. - July 3, 2025) - Lithium ION Energy Limited (TSXV: ION) (FSE: Z4A) ("ION" or the "Company") announces that it has closed its previously announced debt settlements with certain non-arm's length creditors (the "Debt Settlement"). Pursuant to the Debt Settlement, the Company has settled an aggregate amount of
All securities issued in relation to the Debt Settlement are subject to a hold period expiring four months and one day after the date of issuance in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the "TSXV"). The Debt Settlement remains subject to the final approval of the TSXV.
The Company is pleased to provide an update regarding its strategic partnership for the advancement of the Urgakh Naran ("UN") project in Mongolia. The Company entered into a binding Joint Venture Agreement with SureFQ Ltd. effective March 26, 2025, under which ION will retain a
Related Party Transaction
In connection with the Debt Settlement, certain insiders of the Company were issued an aggregate of 3,000,000 shares. The acquisition of the shares by insiders in connection with the Debt Settlement is considered a "related party transaction" pursuant to Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101") requiring the Company, in the absence of exemptions, to obtain a formal valuation for, and minority shareholder approval of, the "related party transaction". The Company is relying on an exemption from the formal valuation requirements of MI 61-101 available because no securities of the Company are listed on specified markets, including the TSX, the New York Stock Exchange, the American Stock Exchange, the NASDAQ or any stock exchange outside of Canada and the United States other than the Alternative Investment Market of the London Stock Exchange or the PLUS markets operated by PLUS Markets Group plc. The Company is also relying on the exemption from minority shareholder approval requirements set out in MI 61-101 as the fair market value of the participation in the Debt Settlement by the insiders does not exceed
About Lithium ION Energy Ltd.
Lithium ION Energy Ltd. (TSXV: ION) (FSE: Z4A) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION is focused on advancing the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR+ at www.sedarplus.ca.
About SureFQ Ltd
SureFQ is dedicated to advancing innovative and sustainable solutions in the lithium and energy sectors. As a strategic investment and development firm, SureFQ focuses on fostering high-potential projects that drive the global energy transition. Leveraging SureFQ's extensive industry expertise and technological capabilities, SureFQ plays a pivotal role in accelerating lithium resource development and deploying cutting-edge extraction technologies. Through its partnerships and investments, SureFQ is committed to ensuring a stable and efficient supply of critical materials for the clean energy revolution.
For further information:
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
COMPANY CONTACT: Hao Qu, quhao@litioconstante.com
Cautionary Note Regarding Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including with respect to the proposed business combination and the Company's operations after completion thereof, and other words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, including with respect to the entering into of the proposed joint venture with SureFQ and the Company's operations after the completion thereof. Important factors that could cause actual results to differ materially from ION Energy's expectations include, among others, regulatory approvals, the ability to negotiate and implement definitive agreements, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and the ability to predict or counteract other factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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FAQ
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